Average Car Insurance Cost Per Month For One Person – Minimizing The Cost
336 x 280
The amount you will need to pay for your car insurance will depend on several things. The type of car that you drive will determine the amount of insurance you will pay. A car that is less powerful and cheaper will cost less to insure, while a modified car that is high powered will cost more.
If you use your car for business, you are likely to pay higher premiums. Your premiums will also depend on your mileage – the more kilometers you cover in a year, the more you will pay for your car insurance. If you have more points on your license, it shows you have had traffic offences or have been involved in accidents. This will cause your premiums to shoot up. The average car insurance cost per month for one person will typically depend on these issues.
City of residence will also affect the average car insurance cost per month for one person
In addition to the above issues, the average car insurance cost per month for one person will depend on the insurance provider. You should compare policies from different providers yearly to ensure that you are getting a good offer from your provider. A car insurance cost calculator uses these factors to estimate the insurance you are likely to pay.
Generally, the average cost of comprehensive car insurance is about $735 per year. The comprehensive car insurance covers you for loss or damage to your car as well as damage to the car or property of another person. There are also other types of insurance – third party property, fire and theft, and the compulsory third party insurance.
Cost of insurance depending on age
There are certain issues that affect the average car insurance rates by age and gender. Statistics show that drivers below 25 years get into more accidents that result in claims. Car insurance for drivers in this age bracket is therefore more costly.
Males under the age of 25 pay more for car insurance than females in the same age bracket. Statistics show that 80 per cent of drivers who die as a result of speeding are male. Out of the men involved in accidents related to speeding, one in three is a man aged between 17 and 25 years.
From 25 to 29 years, the rates for car insurance reduce and even reduce further for drivers aged 30 to 49 years. The lowest premiums are paid by drivers who are over 50 years.
Insurance for new drivers
As a new driver, it is important to understand that the insurance company does not have your driving history. The provider will therefore look at other factors to determine the premiums they will charge you. There are certain things that can be done to reduce the estimate car insurance for a new driver. It is a good idea to take and pass an approved driving course as it will help to lower your premiums. You can also opt for a car that is common and that is not expensive to repair. Alternatively, you may choose to avoid high performance and modified cars, since they will only increase your premiums.